AI Summary of Article 64 Withdrawal of authorisation of a crypto-asset service provider
Competent authorities must withdraw a crypto‑asset service provider's authorisation where it was unused for 12 months; the provider renounced it; no services were provided for nine consecutive months; the authorisation was obtained by irregular means (including false statements); the provider no longer meets conditions and failed to remedy; the provider lacks effective systems to prevent money‑laundering and terrorist financing in accordance with Directive (EU) 2015/849; or the provider has seriously infringed this Regulation, including protections for holders or clients and market integrity. Authorities may also withdraw for breaches of national law transposing Directive (EU) 2015/849 or where payment or e‑money authorisation has been lost and not remedied within 40 days.
On withdrawal the competent authority shall notify ESMA and host Member State single points of contact without undue delay and ESMA will publish the information in the Article 109 register. Withdrawal may be limited to a particular crypto‑asset service. Before withdrawing, authorities must consult competent authorities of other Member States where the provider is a subsidiary of, a subsidiary of the parent undertaking of, or controlled by the same persons as, an authorised provider there; they may consult the authority supervising AML/CTF compliance. EBA, ESMA and host supervisors may request a home authority review. Providers must maintain procedures to ensure timely transfer of clients' crypto‑assets and funds when authorisation is withdrawn.
Article 64 Withdrawal of authorisation of a crypto-asset service provider
1. Competent authorities shall withdraw the authorisation of a crypto-asset service provider if the crypto-asset service provider does any of the following:
(a) has not used its authorisation within 12 months of the date of the authorisation;
(b) has expressly renounced its authorisation;
(c) has not provided crypto-asset services for nine consecutive months;
(d) has obtained its authorisation by irregular means, such as by making false statements in its application for authorisation;
(e) no longer meets the conditions under which the authorisation was granted and has not taken the remedial action requested by the competent authority within the specified timeframe;
(f) fails to have in place effective systems, procedures and arrangements to detect and prevent money laundering and terrorist financing in accordance with Directive (EU) 2015/849;
(g) has seriously infringed this Regulation, including the provisions relating to the protection of holders of crypto-assets or of clients of crypto-asset service providers, or market integrity.